Hasbro reportedly offered to buy Mattel

Hasbro reportedly makes a takeover bid for struggling rival Mattel

Toymaker Hasbro Inc has made a takeover approach for rival Mattel Inc, the Wall Street Journal reported on Friday. The terms of a potential deal could not be learned, the newspaper added, cautioning there could be no deal. Hasbro owns Nerf, Transformers, and My Little Pony, while Mattel makes Barbie and American Girl dolls, along with Fisher-Price and Hot Wheels toys.

Combining could be beneficial for both businesses as it would give them more pricing power to negotiate with entertainment studios over TV and movie franchises.

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According to a report on the WSJ, Hasbro had recently approached Mattel with the deal. Mattel's stock surged on the news, while Hasbro saw a 3% bump in after-hours trading.

Mattel's market value is $5 billion after the stock plunged 47% so far this year. Hasbro Inc. shares rose $2.55, or 2.8 percent, to $94.

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Two weeks back, Mattel suspended its dividend and Chief Executive Margo Georgiadis, who took the job in January, warned the company would miss its full-year revenue forecast.

The bankruptcy filing in September by Toy "R" Us, the largest toy retailer in the USA, highlighted struggles that the sector is facing including children's preferences shifting from traditional toys to electronics and online competition increasing. Mattel stock fell on that day to its lowest since 2009.

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Mattel and Hasbro have held talks a number of times in the past, including as long ago as 1996 and as recently as late in 2015.

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